Strapp takes on BT New Zealand
BT Australiachief investment officer Guy Strapp is taking on the additional responsibilities of acting chief investment officer for BT New Zealand (BTNZ) following the resignations of former BTNZ chief executive Craig Stobo and chief investment officer Andrew South.
Until a replacement chief investment officer is named, Strapp is charged with providing an investment management overview and support to the BTNZ investment team, and will be encouraging its trans-Tasman subisidary to leverage off the resources of the Australian investment team.
Former BTNZ chief operating officer Mike Newton has stepped back into the helm of the business, but only on a temporary basis, he says.
Newton, who left BT last year to establish his own asset management business, says he has no intention of taking on the job on a full time basis, and that he will continue his work at Select for the duration of the short contract with BT.
Stobo says his resignation, after 14 years with the group, is not in order to take up another position, but to pursue other ideas as it was time for a change.
Stobo took over as head of BT Funds Management (NZ) in September 2000, following the departure of then chief executive, Myles Baron-Hay.
Recommended for you
Financial advisers are reminded to ensure their CPD is up to date with the Financial Services and Credit Panel making its second determination in a week after an adviser failed to meet the requirements.
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.